Approximately 1.5 billion people around the world do not have access to grid electricity. An additional 1 billion are connected to unreliable grids. Many such people live in developing countries where lack of suitable infrastructure prevents access to reliable grids. Even though these people are often poor, they pay far more for lighting than people in many other countries because they use inefficient energy sources (such as kerosene) that are far costlier than grid electricity or environmentally-produced energy. Renewable energy, and in particular energy generated by solar photovoltaic panels, can be particularly suitable for developing countries since transmission and distribution of energy generated from fossil fuels can be difficult and expensive in such countries.
Some existing solutions for providing energy allow users to install solar powered energy storage units, for example in their homes. However, such units typically have high upfront costs and, as such, may be prohibitively expensive for customers. As a result, creative business models for providing “pay-as-you-go” electricity on demand have been developed, allowing businesses to cover the cost of solar panels and accompanying energy storage units.
Thus, although the case for renewable energy in developing countries is compelling, there remains a problem of how to finance deployment of renewable energy systems such as photovoltaic panels in areas where the population cannot afford to purchase such systems or finance the costs typically associated with deployment of such systems, and especially when such systems are prone to theft or bypassing of payment requirements.
It would therefore be advantageous to provide a solution that would overcome the challenges noted above.